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Last.fm sells to CBS for £140m in largest UK web 2.0 deal to date

US media giant CBS Corp announced that they will be buying the London-based internet site Last.fm for GBP 140 million. The CBS - Last.fm deal amounts to the largest web 2.0 purchase to date in the UK.



The three founders of Last.fm (Felix Miller, Martin Stiksel and Richard Jones) will keep running the company.

About Last.fm

  • ”Founded by Felix Miller, Martin Stiksel and Richard Jones, we are a London-based company with a music-obsessed team of developers and creative professionals from around the world”
  • 15 million users share music and network online; bringing listeners, artists, and music together and then provides custom-made radio streams.
  • The site operates in more than 200 countries.
  • Last.fm has about 3 million U.S. users
  • Started in 2002
  • Sold for 141 million GBP

    According to Nielsen Media Research even though CBS is one of the top television networks, prime-time ratings have dropped among viewers in the 18 to 49 age group; the most popular group with advertisers.

    CBS has invested in 13 internet companies and acquired three others since 11/2006. Last week it acquired the financial news site Wallstrip LLC.

    ''Many small companies are being sold, so if they don't buy it now, someone else will,'' said Laura Martin, a Soleil Securities Corp analyst.

    Online Advertising news posted on 31 May 2007

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